On June 23rd, the CFPB released a Notice and Request for Comment ("Notice") seeking public input on who is a "larger participant" in certain consumer, non-bank financial markets. The Notice identifies six markets for potential inclusion in an initial rule: debt collection; consumer reporting; consumer credit and related activities; money transmitting, check cashing, and related activities; prepaid cards; and debt relief services. The larger participant rule will not impose substantive consumer protection requirements. Instead, the rule will enable CFPB to begin a supervision program for larger participants in certain markets. Comments should be submitted within 45 days after publication in the Federal Register, which is expected during the week of June 27. CFPB Press Release.